It looks like the world's largest streaming service is finally facing the consequences of throwing millions of dollars on movies for 5 years, with management deciding to take down two divisions of the company.
The two divisions in question are Family Live Action and Original Independent Features, responsible for producing small and auteur projects with budgets under $30 million. As the number of subscribers dwindles, Netflix executives definitely fear for the future of their company, especially considering how much it cost the service to produce Russo Brother's ‘The Grey Man’ and ‘Knives Out’ sequels. But giving up producing smaller films is obviously not the best option, as fans noted on Twitter.
And they're obviously right. Although Netflix produces incredibly expensive movies, the service is also known for producing indie productions, and the streaming service was considered a safe haven for many non-Hollywood filmmakers. Now, apparently, things will change, and would-be creators will have to turn to Netflix's competitors, Amazon Prime, Apple TV + or Hulu. Not the best way to cut costs, don't you think?
Some fans fear that Netflix will also stop purchasing movies to rent, which could severely hurt the amount of content available to subscribers.